Vesttoo is proud to announce that Plug and Play, the global innovation platform that has funded companies such as Dropbox, PayPal and N26, has joined Vesttoo as a shareholder through an equity investment. Plug and Play invests in innovative “businesses of the future”, making this investment an exceptional vote of confidence in Vesttoo’s AI and Machine Learning technologies as well as the value Vesttoo can provide the insurance and capital markets.
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Vesttoo’s proprietary technologies harness the power of AI and machine learning to forecast and price long-tail risks such as longevity, excess mortality, lapse, as well as Value-in-Force (VIF) monetization and excess mortality Industry Loss Warranties (ILW) and transfer them to the capital markets, allowing insurers, reinsurers and pension funds to adopt proactive strategic risk and capital management.
“We are very excited to have Plug and Play on board and to join the ranks of prominent and successful companies which have graduated Plug and Play’s programs. In today’s volatile economy and Covid-19 stress, taking advantage of AI-based technologies to assess, price and transfer risk to the capital markets is the best way to bridge the insurance industry’s funding gap and face the increasing challenges,” said Yaniv Bertele, CEO of Vesttoo.
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“We are very happy to support Vesttoo on their journey to bridge the insurance and capital markets. We invest in innovative insurtech companies that address the increasing challenges facing the insurance markets, and we believe that Vesttoo is uniquely positioned to do just that. We are looking forward to our joint collaboration,” said Saeed Amidi, CEO of Plug and Play.
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